Shaun Pulfrey is about to be a very, very rich man.
A while ago, he went on the TV show Dragon’s Den where he pitched his idea – a detangling hairbrush – to the wealthy potential investors. But he was turned down by all of the five Dragons, with them calling the idea “hairbrained”, “a waste of time” and telling him it looked liked a ‘horse brush’.
But Pulfrey wasn’t deterred. He kept at it, and now Tangle Teezer is a global phenomenon. It’s sold in 70 countries and high-profile celebrities such as Victoria Beckham, Emma Watson, Cara Delavigne and Nicole Scherzinger all endorse and enjoy it.
And, to top it all off, The Mirror reports that he is set to sell the business for up to a massive £200 million. It was originally priced at £100 million, but the Brexit vote and the subsequent drop of the pound has boosted overseas sales. As a result, investors could now be prepared to make the double jump to £200 million.
If the sale goes through, Pulfrey will be five times richer than Deborah Meaden, one of the Dragons who rejected his offer. If she had taken the original £80,000 investment, she would be up around £30 million.
And, to add insult to injury, Pulfrey is the sole shareholder so he’ll be the only one enjoying the profit. Pretty good mid-year bonus!